10B Action 2009 1221 - Laserfiche WebLink

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The Agency's Sixth Amendment to the Redevelopment Plan for the Joint Project Area removed a 47-acre parcel which is the largest parcel of the six-parcel site of Bayfair Mall, an enclosed mall that has been the subject of substantially reduced County assessed valuation. The current assessed valuation was at that time below the base year value utilized in the calculation of tax increment for the area. The Sixth Amendment was approved on November 19, 2001, and took effect immediately, which had the effect of increasing the net tax increment allocated to the Agency. Land Uses The Redevelopment Plan for the Joint Project Area sets forth the principal land uses permitted, in accordance with the City's General Plan, and the building restrictions in project development. It also assigns the Agency and the City their respective responsibilities in carrying out the Redevelopment Plan. Provision is made for rehabilitation as well as new construction and sets forth conditions and procedures required under both approaches. Construction is required to comply with all applicable State and local laws in effect, including without limitation, building, electrical, heating and ventilating, housing and plumbing codes of the City. Property within the Joint Project Area is currently zoned and utilized for a variety of uses. The approximately 1,700-acre Joint Project Area's land area is roughly half within the City and half within the County. The Joint Project Area includes a mix of commercial, residential and industrial uses, including shopping centers, a regional auto mall, a new housing subdivision, and manufacturing plants. The following table shows the value of existing land uses for fiscal year 2009-10 in the Joint Project Area. -17-